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Pursuit Minerals Ltd.
Summary
| Project: | Koitelainen | |
|---|---|---|
| Deposit: | Koitelainen | |
| Location: | Finland | |
| Commodities: | Vanadium | |
| Date: | 5/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-5-2019: Pursuit Minerals Ltd. announces a Scoping Study report for its Koitelainen deposit at the Koitelainen project. Scoping Study results positive for Koitelainen. The Scoping Study determined that the project generates excellent returns from the pla | |
| Resources: | (Resource, Inf.): 116.Mt @ 2.25% V2O5 | |
| CP/QP: | [Overall Report]: Jeremy Read (Internal) | |
| ABSTRACT: | The Scoping Study determined that the project generates excellent returns from the planned mining project. The conceptual modelling for the Airijoki project assumed four open pits would produce high-grade vanadium magnetite concentrate, which would be transported to Rotterdam for sale to international markets. The Scoping Study was based on the Inferred Mineral Resource announced for the Airijoki project in March 2019. The Resource consists of four Zones (A to D) and totalled 44.3 million tonnes, at in-situ grade of 0.4% V2O5, containing 5.9 million tonnes of magnetite @ 1.7% V2O5 (in magnetite concentrate), for 100,800 tonnes of V2O5 based on 13.3% mass recovery of magnetite concentrate and a cut-off of 0.7% V1 . Engineering group SRK was retained to undertake the Airijoki Scoping Study and ALS Metallurgical Services was retained to undertake metallurgical tests with the objective of determining ways to further increase the mass recovery and overall recovery of vanadium into a vanadium magnetite concentrate. The metallurgical test work increased mass recoveries significantly by simply increasing the crushing size of the ore to 355 microns from 106 microns. For three holes tested from the Airijoki Project, the average mass recovery was increased from 13% to 18.3%. Additional metallurgical test work has since been conducted involving Low Intensity Magnetic Separation (LIMS) which further increased the average mass recovery to 22.2%. The Airijoki metallurgical test work program is ongoing. The results received to date were incorporated into the Scoping Study. The Scoping Study focussed on mining vanadium mineralisation hosted in a meta-dolerite unit from four open pits on Zones 1 – 4 of the Airijoki Inferred Mineral Resource (Figure Two). Mining would be based upon bulk open pit mining techniques using standard drill and blast, load, haul and crusher feed, followed by magnetic separation to produce a vanadium magnetite concentrate. | |
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